Blankfein’s $9 Million Bonus Is PR Genius

The WSJ’s Sue Craig reported this evening that Goldman CEO Lloyd Blankfein is taking a mere $9 million bonus for 2009, in all stock and no cash.

This comes after a year in which the Wall Street firm reported massive profits and compares with the $70 million in compensation that Blankfein collected for 2007.

It seemed likely that Blankfein was going to take a small bonus given all the criticism that Goldman has faced for its role in the financial crisis and the fact that many of its profits have been earned through government intervention in the capital markets. In addition, Goldman’s rank and file employees have had to take smaller bonuses, as the company reduces its overall compensation ratios to the lowest levels since Goldman went public.

Still, $9 million seems perfectly calibrated: Not large enough to be dubbed a “double digit” bonus. But not so small as to seem that Blankfein capitulated completely to political pressures.

Consider that Blankfein’s bonus is nearly half that of JPMorgan Chase boss Jamie Dimon . It’s also smaller than far less-well known figures in finance. Would you believe that Blankfein is now officially paid less than the CEO of Jefferies, Richard Handler, who is expected to earn a $12 million bonus in cash and stock.

What about Richard Fairbank?Do you even know who he is? [Click Below to Keep Reading]

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